Some office buildings convert well and many don't. Picking the right building does more for feasibility than almost any line item in the budget.
What Typically Works Best
- Smaller or segmented floor plates that allow unit layouts with natural light.
- Building geometry and window lines that support residential program.
- Clear zoning path (or realistic variance/rezoning strategy).
- Mechanical systems that can be adapted without extraordinary cost.
Underwriting Lens
Feasibility comes down to unit yield, construction constraints and the exit. The deals that work put a building that can physically convert in the hands of capital that already understands schedule and entitlement risk.